Jacobio Pharma (1167.HK) reports revenue surge, pipeline advances

Jacobio Pharmaceuticals Group (HKEX: 1167) today announced its annual results for the year ended December 31, 2024, highlighting a significant revenue increase and pipeline progression. Revenue climbed to RMB155.7 million, up from RMB63.5 million in 2023, primarily due to its license-out agreement. The company's loss for the year decreased by 56.6% to RMB155.7 million. Key pipeline achievements include the first NDA submission of glecirasib in China, the initiation of Phase III trials for glecirasib in combination with sitneprotafib, and licensing Greater China rights for glecirasib and sitneprotafib to Allist. Research and development expenses decreased by 11.3% to RMB330.2 million. The company is changing the allocation of unutilized net proceeds to support early-stage drug discovery. The nomination committee composition has been updated with the appointment of Ms. Yunyan HU and the cessation of Dr. Te-li CHEN.